Question

The interest on Rs 5,000 at the rate of 15% per annum for one month is ?​

Answer 1

Answer:

ANSWER

P = Rs 5,000

t = 1 year 6 months, so t = 3

r = 8% per annum

C.I=P(1+

100

r

)

t

−P

=P((1+

100

r

)

t

−1)

=5000((1+

100

8

)

3

−1)

=5000(0.2597)

=Rs1298.5(Rs1298.5)